Two Exposed Couples

I have a dilemma and I need your advice.

I’ve talked to two people in the past week that called me because they want life insurance.  That’s always a good thing right?  Well my first question is always, why?  Then I sit back and listen.  Nobody buys insurance for no reason.  Almost always there is some social psychology change that took place.  The other few times it’s because someone important to them told them to.

I usually follow the why question with, are you sure you need life insurance?  To be honest, I do this to differentiate myself.  What other insurance guy ever asks if they really need it?  You might think that this might cost me money or a sale.  Well it has, but it also saved me a lot of time.  I figure if someone can’t convince me that they need and want life insurance then they definitely aren’t convinced.  If they’re not convinced then they are never actually going to make the effort or spend the money.

Sorry I got sidetracked.  The reason I’m telling you about these two people is because neither one of them has any insurance at all.  Couple A is in their early thirties with a young kid and another on the way.  Couple B is in their early forties with one kid in their freshman year in college.

When I come across someone with no insurance I handle things a little differently.  If they have the want and need then I look to get them some coverage as soon as possible.  The way I do this is to start the underwriting process as soon as possible.  You might not know this but if you put down one month’s premium you are covered through the underwriting process as long as you haven’t had a major health problem (heart attack, cancer, stroke, etc). 

What I do is let them know that we are in no way locking into anything we are instead getting coverage quickly since they don’t have any.  What we are doing is gathering all their medical information under one company.  As we go through our own process of determining the best coverage, the insurance company will be doing their work of gathering the information into one bundle.  Once we have the bundle of information it becomes easy to forward it to the best company for what you want to accomplish.  The company is the last thing to determine and is usually pretty much determined for us as we figure out the best insurance for your situation.

I had this conversation with both couple A and couple B.  I’ll tell you one of them just sort of passed.  The other couple said that is a great idea, let’s get started right away.  Guess which is which?  That’s my dilemma.  Usually when I suggest this people will go along with it for whatever reason.  I just feel more comfortable because I don’ t want something to happen and have it be too late.  You know what I mean.

It was couple A that passed.  They had life insurance in the past, when they moved they let it lapse.  I was amazed that they passed on being covered as quickly as possible.  Worse is I don’t know if I really want to work with them anymore.  We have very different values.  They gave me an idea of their full financial situation and they know they need the insurance.  From a professional standpoint, they need a lot more than just life insurance but it’s a great start.  A step in the right direction.

My Question To You

What do I do?  How should I handle this?  I will usually pass on working with someone if I feel that we have different values.  I don’t need the commission check or anything like that.  However, these people need my help.  I could always introduce them to another insurance agent I do some work with that will handle the policy for them?  What do you think?

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